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GRAINS https://quotes.ino.com/ex changes/?c=grains

March Corn closed up 2 1/2-cents at 3.85 1/4.

March corn closed higher on Friday as it extended this week's trading range. The high-range close sets the stage for a steady to higher opening when Monday's night sessions begins trading. Stochastics and the RSI are overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If March extends the rally off November's low, November's high crossing at 3.90 is the next upside target. Closes below the 20-day moving average crossing at 3.76 3/4 would temper the near-term friendly outlook. First resistance is November's high crossing at 3.90. Second resistance is August's high crossing at 3.98 3/4. First support is November's low crossing at 3.67 1/4. Second support is September's low crossing at 3.54 3/4.

March wheat closed up 16 1/4-cents at 5.31 3/4.

March wheat closed sharply higher on Friday and above the 50-day moving average crossing at 5.23 confirming that a short-term low has been posted. The high-range close sets the stage for a steady to higher opening when Monday's night session begins trading. Stochastics and the RSI have turned neutral to bullish signaling that sideways to higher prices are possible near-term. If March extends the rally off November's low, the 38% retracement level of the August-November decline crossing at 5.50 1/2 is the next upside target. First resistance today's high crossing at 5.32. Second resistance is the 38% retracement level of the August-November decline crossing at 5.50 1/2. First support is November's low crossing at 5.03 1/4. Second support is the 87% retracement level of the 2017-2018-rally crossing at 5.01.

March Kansas City Wheat closed up 16 1/2-cents at 5.12.

March Kansas City wheat closed sharply higher on Friday. The high-range close sets the stage for a steady to higher opening on Monday. Stochastics and the RSI are turning neutral to bullish signaling that sideways to higher prices are possible near-term. If March extends the rally off November's low, the 50-day moving average crossing at 5.20 3/4 is the next upside target. If March renews the decline off October's high, weekly support crossing at 4.53 is the next downside target. First resistance is the 50-day moving average crossing at 5.20 3/4. Second resistance is November's high crossing at 5.33 3/4. First support is November's low crossing at 4.82 1/4. Second support is weekly support crossing at 4.53.

March Minneapolis wheat closed up 12 1/4-cents at 5.81 1/2.

March Minneapolis wheat closed higher on Friday. The high-range close sets the stage for a steady to higher opening when Monday's night session begins trading. Stochastics and the RSI are turning neutral to bullish signaling that sideways to higher prices are possible near-term. Closes above Monday's high crossing at 5.82 3/4 are needed to renew the rally off November's low. If March renews the decline off October's high, July's low crossing at 5.59 is the next downside target. First resistance is the 50-day moving average crossing at 5.86 1/4. Second resistance is November's high crossing at 5.93. First support is last-Thursday's low crossing at 5.67 1/2. Second support is July's low crossing at 5.59.

SOYBEAN COMPLEX? 

January soybeans closed up 6 1/2-cents at 9.16.

January soybeans closed higher on Friday and tested the 38% retracement level of the May-September-decline crossing at 9.15 3/4. The high-range close sets the stage for a steady to higher opening when Monday's night session begins trading. Stochastics and the RSI are overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If January extends the rally off September's low, July's high crossing at 9.32 3/4 is the next upside target. Closes below the 50-day moving average crossing at 8.80 3/4 would temper the near-term friendly outlook. First resistance is the 38% retracement level of the May-September-decline crossing at 917. Second resistance is the 50% retracement level of the May-September-decline crossing at 9.45 1/4. First support is November's low crossing at 8.57. Second support is October's low crossing at 8.44 1/2.

March soybean meal closed down $0.40 at 315.40.

March soybean meal closed lower on Friday. The mid-range close sets the stage for a steady to lower opening when Monday's night session begins trading. Stochastics and the RSI are neutral to bearish signaling that sideways to lower possible near-term. If March extends the rally off November's low, October's high crossing at 327.40 is the next upside target. Closes below the 20-day moving average crossing at 312.40 would confirm that a short-term top has been posted. First resistance is October's high crossing at 327.40. Second resistance is the 38% retracement level of the May-September-decline crossing at 330.30. First support is November's low crossing at 305.30. Second support is September's low crossing at 303.40.

March soybean oil closed up 6 pts. at 28.96.

March soybean oil higher on Friday. The mid-range close sets the stage for a steady to higher opening when Monday's night session begins trading. Stochastics and the RSI are overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If March extends the rally off November's low, October's high crossing at 30.50 is the next upside target. Closes below the 20-day moving average crossing at 28.24 would temper the near-term friendly outlook. First resistance is today's high crossing at 29.23. Second resistance is October's high crossing at 30.50. First support is November's low crossing at 27.42. Second support is weekly support crossing at 26.88.

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